第十五章
( ) describes how individuals in a group can act together without planned direction.
答案:Herd behavior Another factor believed to contribute to financial crises is ( ), a situation in which the risks associated with an institution’s debts and assets are not appropriately aligned.
答案:asset-liability mismatch
Economic crisis is usually characterized by ( ).
答案:recession;stagflation;depression
The reasons of financial crisis include ( ).
答案:asset-liability mismatch;herd effect;leverage;regulatory failure
A financial asset exhibits a bubble when its price is lower than the present value of the future income (such as or dividends) that would be received by owning it to . （ ）
答案:错
Negative GDP growth lasting two or more quarters is called a recession and an especially prolonged recession may be called a depression. （ ）
答案:对
Contagion refers to the idea that financial crises may spread from one institution to another. ’s scam in early 20th century Boston is an example. （ ）
答案:错
The current turmoil in the global financial market originating from the U.S. has a lot to do with asset securitization. （ ）
答案:对
Banking crisis refers to the condition that the debtor country is unable to pay or has to postpone debt repayment due to its insolvency. （ ）
答案:错
The sovereign debt crisis is usually marked by the credit rating of debtor countries being lowered, which may cause the market panic, currency devaluation, bank failure and etc. （ ）
答案:对
